Daily News Archive
Brought to you by Home Furnishings Business
September 6,
2010 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on September 7, 2010
Havertys Furniture (NYSE:HVT) will close a furniture store in Abilene, Texas, according to the the Abilene Reporter-News.
The store at 1383 S. Danville Drive will be closing when its lease expires at the end of the year.
Atlanta-based Havertys also has a store relatively nearby in San Angelo, Texas.
Havertys operates more than 100 furniture stores in 17 states.
September 6,
2010 by in UnCategorized
By Home Furnishings Business in Green on September 7, 2010
Online consumer voting is underway on Project UDesign, an eco-friendly furniture design competition sponsored by Cargill's BiOH Polyols business.
Cargill's BiOH polyols makes a soy-based ingredient to replace a percentage of petroleum in foam used for upholstered furniture cushioning.
In the competition, students at Savannah College of Art and Design designed wing chairs featuring cushioning with sustainable materials. Based on evaluations of a panel of industry experts, six semifinalist designs were selected following the students' completion of SCAD's soft furnishings design course this summer.
The six designs and related video footage are now displayed on Cargill's Experience BiOH blog, You Tube channel and its Facebook fan page.
Online voting for Project UDesign runs through Oct. 19. and the winning student's chair will be announced on Oct. 20.
North Carolina-based Century Furniture, a 2009 AHFA SAGE award finalist and Sustainable Furnishings Council member, has pledged to put the new wing chair into production. The company will pay the popular winner of Project UDesign a royalty for each unit of the winning chair design it sells. The winner also will receive a $1,000 award from Cargill's BiOH polyols business.
We want to demonstrate to the home furnishings industry and consumer that environmentally friendly products and great design can go hand in hand, said Cargill BiOH business unit leader, Yusuf Wazirzada.
Additional sponsors of Project UDesign include Toray International's brand of Ultrasuede upholstery covers, which are made using Toray's EcoDesign manufacturing process; Century Furniture, and the furniture design department at Savannah College of Art and Design.
At October High Point Market, designs from the three finalists will be displayed in the Century Furniture showroom in the historic Market Square building during High Point Market, beginning on Saturday, Oct. 16, where Market attendees will be invited to vote online during their visit to Century's showroom. On Wednesday, Oct. 20, all votes will be tallied, with the SCAD student winner recognized at Market during the WithIt (Women in the Home Industries Today) Student Mentoring day.
September 6,
2010 by in UnCategorized
By Home Furnishings Business in Casual Furniture on September 7, 2010
The International Casual Furnishings Assn. will hold its 2010 Annual Meeting Wednesday, Sept. 22, at the International Casual Furniture & Accessories Market in Chicago.
The meeting, beginning at 7:30 a.m., will be held in the Merchandise Mart Conference Center on the second floor, across the pedestrian bridge.
Members will be asked to vote on the 2011 ICFA officers and board of directors. An association update will highlight new developments and important information on member benefits and services. The 2011 ICFA budget also will be reviewed for approval. A continental breakfast will be available in advance of the meeting, beginning at 7 a.m.
September 2,
2010 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on September 3, 2010
Ikea is taking on the second-home furnishings market by opting to sell its used products online in Sweden.
Time magazine picked up a story from a Swedish newspaper reporting the retailer launched the business in Sweden Aug. 28.
Peter Agnefall, chief executive officer of Ikea Sweden, told
Dagens Nyheter that time would tell. "We have to start somewhere," he said. "We in Sweden are first and it is unbelievably fun."
Agnefall continued to say that selling used furniture falls in step with the company's stance to be environmentally responsible. "It is about taking an environmental responsibility for how our products are used in the longer term and making it easier for our customers to do their part for their responsibility towards the environment," he said.
September 2,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on September 3, 2010
Furniture Brands International (NYSE: FBN) has made a contribution of about 4.1 million shares of its common stock to the company's pension plan.
The shares were contributed in a private placement transaction and in consideration for the reduction in future funding obligations to the plan. Following the contribution, the company has about 55 million shares of common stock issued and outstanding and about 6.4 million shares are held in the pension plan.
During the first six months of 2010, Furniture Brands had contributed a total of $22.2 million in stock and cash to the plan. At June 30, the company estimated it would be required to contribute about $45 million to the plan by Sept. 15, 2011, to maintain compliance with targeted federal pension funding requirements. Based on the closing stock price on Sept. 1, the 4.1 million share contribution reduces that requirement by about $20 million.
"Furniture Brands is committed to addressing its pension status while maintaining the liquidity needed to manage the business in a challenging economic environment," said Steven G. Rolls, senior vice president and chief financial officer.
The complete press release can be downloaded from the Furniture Brands Web site.